Employees seek greener pastures as global labor market warms
Employers must increase transparency and better communicate benefits to retain top talent.
The global labor market is warming up and active job seeking is on the rise, according to consultancy CEB.
Employees have long believed that the job opportunities they were seeking did not exist in the labor market. However, as companies increasingly turn to mass media to promote appealing employment brands and job opportunities, they are being convinced otherwise. Data from CEB's research suggests that employees may finally be ready to make a move.
"For some time, employees have been questioning their future with their current organizations and have been passively evaluating new opportunities," said Brian Kropp, HR practice leader, CEB. "With more companies publicly promoting their workplace benefits and amping up the cool factor, many employees are feeling that the grass really is greener elsewhere and are ready to move on."
"Employees' intent to stay with their current employers continues to decline globally."
While this is good news for companies looking to attract new talent, employers looking to retain their best people must also take notice. In fact, employees' intent to stay with their current employers continues to decline globally. Latin America and North America experienced the sharpest declines at three percent and two percent respectively.
Employees are also putting in less effort at work in all regions except North America. To keep top talent in place, CEB advises, companies will need to better promote internal job opportunities and benefits, rather than letting employees think they must go elsewhere to find the jobs they want.
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